Expert Appraisal Reviews by Tucker Appraisal Services
According to an announcement by the Federal Reserve, "financial institutions are obligated to have an effective, objective real estate appraisal and evaluation plan," and that appraisers doing reviews are obligated to "have the knowledge and expertise to assess compliance with the Federal Reserves appraisal regulations and guidelines." Tucker Appraisal Services provides appraisal review services that are objective, efficient, professional and in line with the Federal Reserve's guidelines.
If you have questions in reference to an appraisal, or if you're in the need of a real estate appraisal review, contact Tucker Appraisal Services today.
According to the Federal Reserve, appraisal reviews "should determine whether the appraisal or evaluation is suitable for the transaction, the danger of the transaction, and whether the practices by which the collateral valuation is collected ensures independence and quality." In addition, they "should announce whether the appraisal or evaluation report is consistent with the engagement letter, which gives an account of the range of the appraisal assignment." Lastly, the Federal Reserve says that "some financial institutions supplement periodic reviews with post-funding surveys of appraisal quality for a few of their high-risk or large-value transactions as a channel to help in revealing valuation issues."
In addition to coordinating our work to the practices and guidelines of our review clients, there are four Fannie Mae forms that are usually used for review services, and we can develop an appraisal review on any one of them. They include an appraisal "desk" review, a "field" review, a "short" form and a "narrative" form. Here at Tucker Appraisal Services, we're skilled in all types of appraisal reviews, review processes and the requirements of review appraisers.
We know what makes a quality appraisal and what the most prevalent imperfections are, specifically in our home market. We're also amply experienced to know that our competitors in our market are skillful in doing a fine job. The Uniform Standards of Professional Appraisal Practice, or USPAP, govern appraisal reviews as well as appraisal reports, and you can rely on us to justly evaluate appraisal reports carried out by others. And those others could be reviewing our work, too!
In short, at Tucker Appraisal Services, you can be sure of our truthful judgment, because we offer professional, objective, ethical appraisal review services for our clients. Contact us to learn more about our qualifications, expertise and service offerings.